Gold prices advanced as much as 1.6% after U.S. President Donald Trump indicated that the U.S. is in the 'final stages' of negotiations with Iran regarding the ongoing Middle East conflict. This development eased concerns about prolonged high interest rates, which typically negatively impact non-yielding assets like gold. As a result, the dollar and Treasury yields fell, contributing to the rise in gold prices. Spot gold was reported at $4,534.33 an ounce, while silver rose by 3.1% to $76 an ounce. The overall market reacted positively, with oil prices declining and equities rallying. Trump's remarks included a cautionary note about potential negative actions if a deal is not reached, highlighting the high stakes involved. Despite the recent gains, gold has seen a significant decline of approximately 14% since the conflict began in late February. According to Ole Hansen, the current market environment reflects a divergence between short-term trading strategies and long-term investment perspectives, underscoring the complexities of the situation.